Andrea Felsted, Columnist

Starbucks CEO Is Carrying Out a Classic ‘Kitchen Sinking’

Brian Niccol is taking a page from Nike's playbook and getting the bad news out of the way first.

October 23, 2024 at 10:51 AM UTC

Andrea Felsted is a Bloomberg Opinion columnist covering consumer goods and the retail industry. Previously, she was a reporter for the Financial Times.

Coffee pours from a coffee machine into a cardboard coffee cup inside a Starbucks Corp. coffee shop in London, U.K., on Monday, June 9, 2014. U.K. services companies' confidence rose to a record this quarter, indicating continued expansion in the largest part of the economy, the Confederation of British Industry said.Photographer: Bloomberg/Bloomberg

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Brian Niccol is cleaning the grounds out of the coffee machines.

On Tuesday, the new Starbucks Corp. chief executive officer suspended guidance for 2025 after sales plunged.